2010 News Releases

Quanzhou, Fujian – After receiving in May a license from the China Insurance Regulatory Commission (CIRC) to operate in Xiamen, Manulife-Sinochem today announces its continued expansion in China. The company has received approval from the CIRC to operate in the city of Quanzhou.

This new license will expand Manulife-Sinochem’s operational presence in China to 43 cities across 11 provinces and consolidate its leadership position among all foreign-invested life insurers in China.

“We thank the Chinese regulators for their strong support and we are very pleased to be able to open a new sales office in the city of Quanzhou,” said Mr. Marc Sterling, Chairman of Manulife-Sinochem, “This news follows the recent announcement that Manulife-Sinochem is the only joint venture life insurance company to earn an top award for demonstrating ‘Best Customer Service in China’. We are looking forward to providing excellent insurance products and customer service to local citizens, and bringing new energy to the insurance market in Quanzhou.”

Quanzhou City is one of the three central cities in Fujian Province and is located in the Southeast of the Province. As one of the cities opened-up for economic reforms in China, Quanzhou’s gross domestic product (GDP) in 2009 was RMB 300.2 billion, an increase of 12.5% from the previous year. With a population of 7.86 million, Quanzhou has been named as one of the “TOP 10 cities to live in China”. Local Insurance businesses have also developed rapidly with life premium income in 2009 up to nearly RMB 4 billion.

“With the approval to enter Quanzhou, Manulife-Sinochem has now successfully established a presence in 3 important cities in Fujian – Fuzhou, Xiamen and Quanzhou,” said Mr. James Lin, President of Manulife-Sinochem, “With more than ten years of successful experience, Manulife-Sinochem is committed to outstanding performance in business development, product design, branding promotion, social responsibility and customer service. We look forward to continued development over the long term in the Quanzhou insurance market.”

As the first joint venture life insurance company in China, Manulife-Sinochem is committed to be the most professional life insurance company in China, providing strong, reliable, trustworthy and forward-thinking insurance products and services to clients. The company currently has about 11,000 professionally trained staff and agents serving over 500,000 customers across China.

About Manulife-Sinochem

Manulife-Sinochem is a joint venture company between Manulife (International) Limited and China Foreign Economy and Trade Trust Company (a member of the Sinochem group). It was the first Chinese-foreign joint-venture life insurance company established in China. Manulife-Sinochem began operations in November 1996. To date the Company has more than 11,000 professionally trained agents and employees, providing financial and insurance services to over 500,000 customers. The company is now developing in over 40 cities including Shanghai and Beijing, and in provinces including Guangdong, Zhejiang, Jiangsu, Sichuan, Shandong, Fujian, Chongqing, Liaoning and Tianjin. With more than ten years’ successful experience, Manulife-Sinochem is committed to offering comprehensive insurance products combined with excellent customer service and professionalism.

Manulife-Sinochem can be found on the internet at www.manulife-sinochem.com.

About Manulife Financial

Manulife Financial is a leading Canadian-based financial services group operating in 22 countries and territories worldwide. For more than 120 years, clients have looked to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions.  Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We provide asset management services to institutional customers worldwide as well as reinsurance solutions, specializing in life and property and casualty retrocession. Funds under management by Manulife Financial and its subsidiaries were Cdn$446 billion (US$440 billion) as at March 31, 2010. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States. Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.

About Sinochem

As one of the key state-owned enterprises under the supervision of SASAC (State-owned Assets Supervision and Administration Commission of the State Council), Sinochem Group has been named to “Fortune Global 500” for 20 times, ranking the 203^rd in 2010. Sinochem has five business segments including agricultural, energy, chemical, real estate and finance. It is China’s biggest integrated agricultural company with fertilizer, pesticide and seed product. It is china’s fourth largest oil company and leading chemical service provider. It also enjoys strong influence in China’s high-end commercial real estate market and non-banking financial market. Sinochem has more than 200 branches and subsidiaries both in China and abroad, among which, there are three listed companies, namely Sinochem International (SSE, 600500), SinoFert (HKEX, 00297), Franshion Properties (HKEX, 00817). In June 1st, 2009, Sinochem made a major move to inject most of its assets into a shareholding entity “Sinochem Corporation”. More than 30,000 employees emulate Sinochem’s spirit of exploration and innovation, adopt the mindset of “Creating Value, Pursuing Excellence” and try their utmost to enhance the corporate value and to build a iconic company worldwide.

Sinochem can be found on the Internet at www.sinochem.com.

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